Zynga purchases Chartboost platform in $250m deal
Zynga has announced its recent purchase of the mobile programmatic ad and monetisation platform Chartboost in a $250 million agreement (£179.8 million). The gaming giant and developer will be paying for this takeover in cash, as the final upfront transaction consideration is also set to include mandatory closing modifications.
Chartboost is an ad platform which also includes a demand platform, supply platform as well as mediation abilities. At the moment, the platform has 700+ million users on a monthly basis and more than 90 billion ad auctions per month.
Furthermore, Zynga stated that this merger with Chartboost will provide opportunities to create a cutting-edge platform which supplies content, full-stack advertising technology and direct player relationship, which is all able to be used across its portfolio of games and the ad firm’s advertising partners. The takeover will be completed throughout Q3 of 2021.
Frank Gibeau, chief executive of Zynga, commented on the purchase saying:
“Chartboost is one of the most dynamic monetisation and discovery platforms in mobile, and we could not be more excited to welcome their talented team to our company. By combining Zynga’s high-quality games portfolio and first-party data with Chartboost’s proven advertising and monetisation platform, we will create a new level of audience scale and meaningfully enhance our competitive advantage in the mobile ecosystem.”
Rich Izzo, chief executive of Chartboost, also said:
“We are thrilled to join with Zynga to further build and expand our full stack advertising platform that will serve Zynga and the entire mobile ecosystem. Together, we share a vision of the future where a combined advertising, analytics and content platform will accelerate growth across both of our companies. Zynga already feels like family and an extension of our own company culture.”
The news of this purchasing deal comes not long after Zynga released its financial results for Q1 of this year.